Yes there are dumb bears out there. Today an anxious bear called me to say- "Did you hear about the Chinese allowing the Yuan to rise. It means Vancouver RE become cheaper for them".
Of course I had heard about it. It caused a quick (and short lived) stock market rally this morning.
However lets look at the facts:
As you can see, the Dollar held it's own today and in fact is up against the Yuan over the last week or two.